short term rentals
Taking Back Market Share From Short-Term Rentals
Larry and Adam Mogelonsky | May 11, 2022
By Larry and Adam Mogelonsky The blinders are on as every hotel looks to cope with a swing back to high occupancies during the upcoming peak summer travel season. But think beyond this travel recovery scenario and you’ll see that the terrain has permanently shifted in favor of short-term rentals as leaders in some markets. We’ve been forecasting for quite some time that Airbnb, Vrbo and the like would come to not only take travelers from hotels but also influence the direction of the entire accommodations industry. Look no further than the gains seen from Airbnb’s earnings report from Q1 2022 released at the beginning of May. This...
Unintended Consequences: How Chicago’s Airbnb Policies Are Backfiring
Hans Detlefsen | February 14, 2022
By Hans Detlefsen As Airbnb and other short-term-rental platforms have grown during the past decade, regulators and hotel industry associations have fought to limit their impacts. The hotel industry has generally viewed these new platforms as competitive threats. As such, the hotel industry sought to level the playing field by asking municipalities to impose taxes and regulations on short-term rentals that would be comparable to what hotels experience. Overview of Short-Term Rental Policies in Chicago In Chicago, the effort to constrain the short-term rental industry went farther than just leveling the playing field. Airbnb bookings ...
Short-Term Rentals Record Higher Occupancy in May
STR | June 21, 2021
HENDERSONVILLE, Tennessee — June 21, 2021 — Short-term rentals in Miami, Nashville and Philadelphia recorded month-to-month increases in occupancy, according to May 2021 data from STR. The occupancy levels continued to be higher than those reported by hotels in each market. Building on STR’s world-leading hotel performance database, Miami, Nashville and Philadelphia are the first three U.S. markets where the company has expanded its benchmarking offerings via a pilot study. Included in STR’s short-term rental sample are both multifamily and single-family short-term rentals. May 2021 short-term rental performance, perce...
London Short-Term Rentals Reach Early 2020 Performance Levels
STR | June 21, 2021
LONDON — June 21, 2021 — London’s short-term rental industry recorded its highest monthly occupancy and revenue per available room (RevPAR) since February 2020, according to May 2021 data from STR. May occupancy for the sector was 64.1%, which represented a 12.5% increase from April (57.0%) and the highest level in the market since February 2020 (65.1%). Short-term rental occupancy was significantly higher than the 31.0% recorded by hotels in London. Average daily rate (ADR) reached GBP111.50, a 16.5% jump over April (GBP95.74). The ADR level was the highest since March 2020 (GBP122.71). RevPAR for the sector rose 30.9% to GBP71.4...
Short-Term Rentals Record Higher Occupancy, RevPAR in February
STR | April 6, 2021
HENDERSONVILLE, Tennessee — April 6, 2021 — Short-term rentals in Miami, Nashville and Philadelphia recorded increases in occupancy and revenue per available room (RevPAR) in February 2021, according to data from STR. Short-term rentals continued to post higher occupancy levels than hotels in each of the three markets. Building on STR’s world-leading hotel performance database, Miami, Nashville and Philadelphia are the first three U.S. markets where the company has expanded its benchmarking offerings via a pilot study. Included in STR’s short-term rental sample are both multifamily and single-family short-term rentals. ...
Short-Term Rentals Post Mixed Performance in January
STR | March 1, 2021
HENDERSONVILLE, Tennessee — March 1, 2021 — Short-term rentals in Miami, Nashville and Philadelphia showed mixed performance results during January 2021, according to data from STR. Short-term rentals continued to post higher occupancy levels than hotels in each of the three markets. Building on STR’s world-leading hotel performance database, Miami, Nashville and Philadelphia are the first three U.S. markets where the company has expanded its benchmarking offerings via a pilot study. Included in STR’s short-term rental sample are both multifamily and single-family short-term rentals. January 2021 short-term rental performance, ...
Short-Term Rentals Outperformed Hotels in Select U.S. Markets During October
STR | November 30, 2020
HENDERSONVILLE, Tennessee—Short-term rentals in three key U.S. cities showed substantial month-to-month performance growth and posted higher occupancy than hotels in the market, according to October 2020 data from STR. Building on STR’s world-leading hotel performance database, Philadelphia, Nashville and Miami are the first three U.S. markets where the company has expanded its benchmarking offerings via a pilot study. Included in STR’s short-term rental sample are both multifamily and single-family short-term rentals. October 2020 short-term rental performance, month-over-month comparisons Philadelphia Occupancy: 70.9% (...
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